Manchester United have retained their status as the world's wealthiest football club, topping the Forbes rich list once again.
Real took second place with an estimated worth of $1.88bn (£1.2bn), while their La Liga rivals came in third with $1.31bn (£817m).
"Manchester United's global fanbase of some 330m also helps makes it the most valuable team in any sport, worth $385m (£240m) more than both Major League Baseball's New York Yankees and the Dallas Cowboys of the National Football League," read the report on the Forbes website.
"During the 2010-11 season Manchester United reaped $192m (£120m) in broadcasting revenue, 22% higher than the previous season.
"The club's run last year to the final of the Champions League, where they lost to Barcelona, commanded an $80m (£50m) payout from UEFA. It will be more challenging for the Red Devils to boost revenue this year, as the team was stunned early in the Champions League by Basel."